Molson Coors finance chief pledges ‘no pull back on marketing’ despite volume decline
Chief financial officer for Molson Coors, which owns brands including Madri, Carling and Coors Light, likened marketing spend to “fuel to drive momentum” for the business.
Molson Coors’ chief financial officer has insisted there will be “no pull back on marketing”, despite the beer business seeing its brands’ sales volumes decline by nearly 5% in its most recent quarter.
For the first half of 2024, ended 30 June, brand volume sales for the beer company, which owns brands such as Madri, Coors Light and Carling, declined 1%. In the second quarter, this decline was even sharper, with brand volumes being down 4.9%.
Overall net sales were up 4.2% to $5.45bn in the first half of the year; however, in the second quarter, they declined by 0.4% on a reported basis.
Brand volume is a metric used by Molson Coors that refers to owned or actively managed brands. The metric is described by the business “the closest indication of the performance of [its] brands in relation to market and competitor sales trends”.
